Waterdrop’s AI-run Conversational Platform Clinches Prime Prize at 2023 Inslab Insurance Technological know-how Innovation Opposition
BEIJING, Aug. 15, 2023 /PRNewswire/ — Waterdrop Inc. (“Waterdrop”, the “Company”) (NYSE: WDH), a leading technological know-how system dedicated to insurance and healthcare provider with a beneficial social effects, recently triumphed at Inslab’s 2023 Insurance policies Technology Innovation Competition, garnering the prize for excellence with its groundbreaking AI-powered conversational platform venture.
The closing of the Coverage Know-how Innovation Competitors was structured by Inslab as component of the 2023 Insurance policy Engineering Pageant. The competitiveness, now in its 3rd version, has come to be a person of the most intently adopted gatherings in China’s burgeoning coverage engineering sector, attracting participation from practically 300 insurtech firms and insurance plan companies.
Waterdrop, with 6 a long time of operation under its belt, now caters to over 110 million policyholders. It has amassed substantial special knowledge property, all even though adhering to pertinent rules and laws.
Manufactured on Waterdrop’s comprehensive anonymized insurance coverage info, the award-winning AI-driven conversational system communicates with consumers employing voice, text, and other mediums. It enhances several phases of the insurance service system. Around the system of its study and enhancement journey, the company achieved 11 innovation milestones and submitted dozens of technical patents. Waterdrop also pioneered a single of the industry’s 1st technological applications, in addition to a few other groundbreaking purposes.
Amid its improvements, Waterdrop has advanced a dialogue reversal algorithm that converts information into considerable trainable samples, solidifying its edge in massive application model deployment. At current, Waterdrop’s AI Smart Dialogue Robotic can mimic the voice of a authentic man or woman, accurately determine buyer intent, and interact in context-based mostly coherent conversations.
In the earlier, the average duration of discussions amongst Waterdrop’s AI-run robotic and clients was around two minutes. Nowadays, it can extend to just about 20 minutes, surpassing the provider performance of entry-amount staff, with a 97% intent recognition amount and more than 80% difficulty resolution level. The mix of clever dialogue robots and human interaction is considerably boosting field efficiency.
Leveraging varied business eventualities and client behavioral information, Waterdrop has formulated a sophisticated clever distribution program. This system makes use of algorithmic abilities to intelligently recommend the most optimum insurance policy products and solutions tailor-made to customers’ well being standing and insurance plan demands. Additionally, in some important eventualities, the clever guide allocation procedure appreciably decreases buyer churn owing to manpower shortages.
In addition, in conditions of hazard control and good quality inspection, the AI-empowered clever possibility handle procedure aggregates 287 chance command options, swiftly pinpointing service top quality problems throughout discussions, generating determinations with regards to frame of mind violations, and making certain assistance quality and buyer knowledge. Dependent on chance manage products and algorithms, it can also recognize consumer feelings and intent in real-time, detecting possible risks.
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Resource Waterdrop Inc.